Avaada Electro, the solar manufacturing subsidiary of the Brookfield-backed Avaada Group, has filed confidential documents with the Securities and Exchange Board of India (SEBI) to raise between Rs 90–100 billion through an initial public offering (IPO). The proposed IPO is expected to include both fresh equity issuance and an offer for sale by existing shareholders….
ACME Solar Holdings Limited has expanded its renewable portfolio with two major milestones, the signing of a 25-year Power Purchase Agreement (PPA) for a firm renewable energy project and the commissioning of the first phase of a 100 MW wind project in Gujarat. Through its special purpose vehicle (SPV), ACME Solar signed the PPA with…
The Ministry of Mines has amended the Mineral (Auction) Rules, 2015 to introduce intermediary timelines between the issuance of the letter of intent (LoI) and the execution of mining leases. The changes are aimed at reducing delays and ensuring faster operationalisation of auctioned mineral blocks. The revised framework sets milestone-based deadlines and allows corrective measures…
The past year witnessed several leadership transitions across the power sector, both at the ministerial level and within major companies. New ministers have taken charge at the central and state levels, while several public and private sector organisations have also announced senior management appointments. Among public sector undertakings, leadership changes were seen in the Ministry…
Adani Power Limited (APL) and Bhutan’s state-owned Druk Green Power Corporation Ltd (DGPC) have formed a joint venture company to develop the 570 MW Wangchhu hydroelectric project in Bhutan. The new entity, Wangchhu Hydroelectric Power Limited (WHPL), was incorporated in Bhutan on October 15, 2025. The joint venture follows a shareholders’ agreement signed in September…
Vena Energy India operates 957 MW of renewable assets across the country and is building an additional 59 MW of capacity. Its development pipeline includes about 1.25 GW of solar and wind projects, underscoring steady portfolio growth. The company also manages 752 MWh of battery energy storage systems (BESS) and is developing another 100 MWh….
Power Grid Corporation of India Limited (POWERGRID) has expanded its interstate transmission portfolio by acquiring two special purpose vehicles (SPVs) through the tariff-based competitive bidding (TBCB) process. POWERGRID acquired Vindhyachal Varanasi Transmission Ltd (VVTL) from PFC Consulting Ltd on October 16, 2025. The SPV, incorporated on April 17, 2025, was set up for a transmission…
The Solar Energy Corporation of India Ltd (SECI) has concluded a tender for 2 GW of solar PV projects paired with a 1 GW/4 GWh energy storage system (ESS), discovering a lowest tariff of Rs 2.86/kWh. Falling battery costs and competitive bidding, including participation from new entrants, contributed to the record low price. Shivalaya Construction…
Blueleaf Energy and Jakson Green have achieved financial close for their 840 MWp Bikaner solar projects in Rajasthan, marking the completion of funding for the partners’ 1 GWp Rajasthan Solar Portfolio. The financing was secured with Axis Bank. The portfolio includes two ground-mounted solar plants of 280 MWp and 560 MWp capacity. These projects are…
The Competition Commission of India (CCI) has cleared the proposed acquisition of Jaiprakash Associates Limited (JAL) by Vedanta Limited under the corporate insolvency resolution process (CIRP) of the Insolvency and Bankruptcy Code, 2016. Vedanta, a subsidiary of Vedanta Resources Limited, operates across multiple sectors including oil and gas, zinc, lead, silver, copper, iron ore, steel,…